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Do the Near-Elderly Value Mortality Risks Differently?

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Author Info

  • V. Kerry Smith

    (North Carolina State University)

  • Mary F. Evans

    (University of Tennessee at Knoxville)

  • Hyun Kim

    (Portland State University)

  • Donald H. Taylor

    (Duke University)

Abstract

Wage hedonic models are estimated with the Health and Retirement Study to measure the risk-wage tradeoffs (value of statistical lives) for older workers. The analysis explicitly allows for multiple employment states, including retirement, using a multinomial selection model. The results suggest that the oldest and most risk-averse workers require significantly higher, not lower, compensation to accept increases in job-related fatality risks. © 2004 President and Fellows of Harvard College and the Massachusetts Institute of Technology. Classification-JEL: I12

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Bibliographic Info

Article provided by MIT Press in its journal Review of Economics and Statistics.

Volume (Year): 86 (2004)
Issue (Month): 1 (February)
Pages: 423-429

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Handle: RePEc:tpr:restat:v:86:y:2004:i:1:p:423-429

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Web page: http://mitpress.mit.edu/journals/

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Web: http://mitpress.mit.edu/journal-home.tcl?issn=00346535

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